Login to UKBP
Commercial Property News
Sports Direct will not bid for Blacks
The retailer Sports Direct has announced it will not be making a bid for Blacks Leisure, following suggestions that key suppliers to the store would not work with them if a takeover occurred.
Sports Direct - which already owns a wide range of commercial property in towns and cities across the UK - stated it had become aware a lack of support has been indicated to Blacks, but the company refused to disclose further details.
"Without clarification in relation to this issue, Sports Direct has been unable to finalise its views on the value of any potential offer," the firm said yesterday (March 31st).
It added that due to this, the company has decided it would not be in the interests of its shareholders to launch a takeover bid for Blacks at the present time.
Freddie George, analyst for Seymour Pierce, recently suggested that an acquisition of Blacks and its business property portfolio could give Sports Direct "significant synergies".
Posted by Tom Baker
Sports Direct - which already owns a wide range of commercial property in towns and cities across the UK - stated it had become aware a lack of support has been indicated to Blacks, but the company refused to disclose further details.
"Without clarification in relation to this issue, Sports Direct has been unable to finalise its views on the value of any potential offer," the firm said yesterday (March 31st).
It added that due to this, the company has decided it would not be in the interests of its shareholders to launch a takeover bid for Blacks at the present time.
Freddie George, analyst for Seymour Pierce, recently suggested that an acquisition of Blacks and its business property portfolio could give Sports Direct "significant synergies".
Posted by Tom Baker
Thu, 1st Apr 2010